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Copper: Faces Resistance at $6.40 as Rates Rise
Copper rose initially at the open on Thursday, only to turn things around. This is still a market that is bullish in the longer term, though. Copper initially tried to rally during the trading session on Thursday but gave back gains at the $6.40 level as interest rates continue to climb in the United States. That can work against commodities and metals in particular. Long-Term Demand Drivers and Technical Outlook But I think longer term, you still have to look at this as a market that probably has more upward momentum than down, mainly due to the fact that the demand for copper is only going to go higher with the ... (full story)
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